Never Treat Your Ad Account Like A Casino
June 12, 2021
Business owners, personal brandists, and anyone else who’s used digital marketing before with no luck, or is struggling to see the value… we need to talk. I see WAY too many people treat their ad accounts like a casino… and I understand this because this WAS ME! You see, I was there. I was jumping for joy if my ads were working well, and the next day I was down in the dumps if it wasn’t producing well and I ended the day negative for profit. This cycle of making decisions based off emotion landed me in debt that could have been disastrous to me and my family. If only I could go back before that time and throw this in my face…
Ads don’t work that way. They don’t care about your emotional rollercoaster, that’s on you. What you can do is stay consistent, play the odds, and not treat your ad account as if it were a Casino.
Casinos are all about trying to get people in the door. Once inside, they try and keep them there as long as possible with free drinks, gambling, and other distractions. It's no wonder then that casinos are so profitable - they're playing the odds.
But when it comes to digital marketing, you can't treat your advertising like a casino - you'll get casino results! In this blog post I'll discuss 7 mistakes business owners make when using ads on Facebook or Google that will result in wasted money and little to no return.
- You're not setting a goal for your ads - you can't hit what you don't aim at!
- Your ad is too vague: if Facebook users are on the site to find information about something specific, they won't be interested in seeing an advertisement with little or no relevance to them
- You're not sticking with a planned budget. This is usually because a company, business, or individual, is not clear on what they want to achieve with ads and don't have specific goals in mind.
- You're using Facebook/Google ads without considering the competition: when you use facebook's ads, it will automatically create a campaign for you based on your targeting options - but these campaigns might be competing against other companies that are doing the same thing.
- You're not using ads targeting: For example, Facebook's ad platform is very powerful and can be customized to target users who have specific interests, demographics, or behaviors of people who you want to see your advert.
- You have no testing plan in place. You didn't know this was a mistake? If you're not using analytics to track the effectiveness of ads, then you have no way of knowing which ads are performing and which aren't.
- You don't understand what's happening with your ads. How can you understand aspects of your ads if you don't know what the stats are showing you? Is your copy and creative great but your product page awful? There's a good chance this data is all right in front if you, but you may not have been trained on either the jargon, terminology, or some of the basic math behind those concepts.
And lastly, the slot machine gave you a 777 when you clicked on this post... so here is your special bonus tip:
You don't know what you're buying: There is so much advertising out there and not all of it is worth spending money on. If you want to buy ads, then do some research first, especially on the competition.
The digital world is not a casino: It's more just like the game of poker, where you do have some control over your odds if you play smart and pay attention to what cards come up next. Advertisers can take risks through various channels, but it's up to you whether or not those risks are worth taking.
It's all about odds: Even though there is some control over ad campaigns, their success still depends on the randomness of the digital world -- and running ads with no potential customers will only cost more money in wasted clicks. Back to my reference in poker, the key is to know when make a move and when it's time to fold.
Good luck, and keep your head strong, and execute your plan. You got this!
- Knute Fosso
Your friendly neighborhood media buyer.